Polygon is an Ethereum based project that hopes to solve fundamental issues the Ethereum blockchain faces, such as interoperability and scalability. It is the first project on the Ethereum blockchain to launch an adequately structured tool that addresses Ethereum scaling problem. Consequently, many have termed Polygon as Ethereum scaling solution.
Ethereum is home to several DeFi projects like the Polygon, formerly known as the Matic network. Since the Matic network has brought numerous functionalities to the entire Ethereum blockchain, several developers have taken an interest in the project that has, in turn, led to steady growth of Matic price.
Major cryptocurrencies such as Bitcoin, Ethereum, Ripple, etc., witnessed a slump on the 1st week of June, and yet, the value of Polygon(MATIC) rose nearly 35% in the same period. Investors saw Polygon (MATIC) as the next big thing and in a short period, it surged past other cryptos to rank among the top 15 biggest cryptos globally.
In Feb 2021, Polygon rebranded itself and upgraded the system by bringing in promising metaverse projects and integrated Matic Plasma Chain. This development provided a layer one blockchain network with integrated scaling solutions for NFT, DeFi, etc.
Polygon has become a massive hit in India and led cryptocurrency exchanges like CoinSwitch Kuber to list the currency on their platforms. Polygon Matic price prediction is based on analyzing the previous price and forecasting the future. Polygon price predictions on Cryptopolitan are based on analyzing the entire cryptocurrency market, price action, and trends to determine whether Polygon cryptocurrency is a good investment.
What is Polygon (Matic)?
Polygon (Matic) was formerly known as the Matic network, and it was developed on the Ethereum blockchain to solve scalability issues faced by Ethereum. The Matic network employs its unique Polygon SDK to create interactive decentralized applications (dApps) on the DeFi platform. It combines both PoS and plasma framework in its core and runs on Ethereum layer two.
Polygon successfully converts the limited Ethereum blockchain into an open blockchain network usable by many. In essence, it makes Ethereum steady as the internet of blockchains.
In turn, Polygon (Matic) project benefits immensely from the already established Ethereum blockchain in several ways. Firstly, every blockchain project needs a secure security infrastructure, the Matic network benefits from Ethereum’s array of qualities such as an active and vibrant community, established security systems, and transparency.
Within the Polygon network, transactions are settled using the Matic coin. Matic price has risen over the years, sparking interest from cryptocurrency enthusiasts. Polygon technology has improved efficiency within the Ethereum blockchain. Today, Polygon boasts of handling up to 65,000 transactions per second on its single sidechain. Similarly, it has averaged an impressive block confirmation time of two seconds per transaction.
Polygon (Matic) price history and technical analysis
Courtesy: CoinMarket Cap
Polygon price forecast is conducted after carefully analyzing its price history and employing technical and fundamental analysis to forecast future prices based on Moving averages. Matic’s previous price records indicate that the coin has been on a steady positive growth despite the unpredictable volatility.
For us to have deeper insights on the expected future prices of Polygon, we need to analyze its current state. Currently, Matic tokens are released monthly, and the current supply is 6.5 Billon MATIC tokens while the maximum supply is 10,000,000,000 MATIC tokens. The current circulating supply accounts for more than 60% of its total supply.
According to Polygon’s plan, all Matic coins will have been released by December 2022, which is good news for long-term investors because it guarantees significant future gains.
Since its inception in 2017, Matic tokens have had an incredible run that has withstood the test of unforgiving crypto market turmoil that usually ends up wiping out invalid tokens.
Matic has a total market cap of $7,730,433,023 with an average daily trading volume of $1,224,150,489.
Courtesy: TradingView
Despite the prevailing bearish trend currently experienced in the crypto market, experts are convinced by Matic’s crypto price prognosis and price forecast data that indicates an overall bullish trend for the long-term investment horizon.
Based on Coingecko’s data, Polygon had recorded impressive gains since its launch back in 2017. The crypto token has recorded incredible gains of up to 44157.6%, and the rally is expected to continue in the following years.
Matic recorded its all-time low price of $0.003143 in May 2019 during the famous bearish run. However, since then, the coin had continued to make significant gains until May 2021, when it recorded a new all-time high price of $2.62. It seems like May is the month of Polygon, after all.
Pros and cons of investing in Polygon (Matic)
Polygon, formerly Matic network, has been considered a stable investment by crypto enthusiasts. Anyone interested in Ethereum and its bundle of projects likely has an affinity for Matic.
It is a well-structured organization with clear goals about extending the scalability of the Ethereum blockchain and making cryptocurrency more accessible to the public. If the project continues to push forward strides, their success is inevitable, and consequently, Matic holders will benefit significantly.
Investing is a full-time activity that requires individuals to analyze potential risks and returns before committing. However, within the crypto world, numerous uncertainties shape the prices of crypto coins. Therefore, even for a seasoned professional, it is challenging to make precise predictions on the price of a coin based on historical price actions alone.
However, for an individual to earn impressive returns on their investments, they must take risks. Here, we’ll discuss some of the benefits of investing in the Polygon ecosystem.
Pros of investing in Matic
Since Matic is a scaling solution on the Ethereum blockchain, it is difficult to foresee its downfall. Therefore, most forecasts are convinced that Polygon will be in existence for years to come. So what are some of the pros of investing in this token?
- It provides new scaling solutions to the Ethereum ecosystem, ensuring a bright future and allowing investors to make long-term investments.
- Since 67% of the tokens are already in circulation, and maximum supply is expected to be realized by December 2022, the coin offers immense growth potential in 2022 and beyond, allowing investors to reap more profits.
- Matic allows for the interconnection of blockchain networks, a scaling solution that assures investors of Matic’s future performance.
- Polygon is supported by a strong community of developers that ensures the project performs well and consequently maintains and increases Matic’s price level.
Cons of investing in Matic
It is indeed public knowledge that investments always come with a degree of risks. Investing in Matic may result in losses if careful considerations of the involved risks aren’t well conducted. Below are some possible shortcomings of investment in Matic.
- Recently, the Polygon network was hacked, and the perpetrators made away with millions worth of Matic tokens. The hacking was a huge red flag for investors since it indicates that the network isn’t as secure as it should be.
- Price volatility. Every cryptocurrency experiences volatility; however, when dealing, sometimes crypto coins experience extreme price drops that may hurt an individual’s portfolio. Since Matic already competes with Avalance, Polkadot, and Cosmos, it is unclear who will win the race. Therefore, for a long time horizon, investors should keep tabs and know when to exit.
Market prediction for Matic 2021-2022
Courtesy: TradingBeasts
Based on the current price of Matic, we expect the short bearish trend to continue for a short time, implying that by the end of the year, Matic will have hit higher price targets. Following the information derived from the price of Polygon analysis, it is expected that Matic closes the year with higher prices.
According to the forecasts, we expect Matic’s price to record an overall percentage increase of 25% to a minimum of $1.26. By December 2022, the maximum price of Matic is projected to be $1.86. When considering the above price range, it is logical to expect Polygon price to close the year at an average price of $1.49, indicating a 27.61% increase from the current price.
The projections imply that Matic will have experience a short bull run toward the end of the year, following the expected change in the overall market sentiment. Also, since Matic tokens are released monthly, it is likely that when we are nearing the maximum supply, the price of the crypto coins will increase due to higher demand that will create supply pressure.
Price Prediction from Trading Beasts 2021
Trading Beasts have produced impeccable forecasting analysis in the past, and they continue to do so. According to their published information, Matic stands a chance to realize impressive gains in the future.
The Polygon price prediction indicates a long-term appreciation of the coin’s value, indicating that the polygon network is poised to withstand the test of time. Considering the lucrative functionalities of the Ethereum network, the project is poised to increase community involvement and increase transactions within the network due to its low transaction fees.
Trading Beasts analyzes charts for resistance level, positive highs, and even record-high prices to determine future trading prices for Matic and ETH holders. Based on their findings, Matic will have a good run from mid-December 2021 until mid-March of the following year. More investors have onboarded the Polygon bandwagon after its new rebranding from the Matic network.
Forecasts show that during the same time, the Matic token will be trading at a minimum price of $1.24524 and a maximum price of $1.39701. According to Polygon price prediction, the token is projected to record a price hit of $1.49301 by the end of December 2021.
Price Prediction from Wallet Investor 2021-2022
Courtesy: Wallet Investor
Polygon Price prediction by Wallet Investor also indicates that the Matic token will have an incredible run in the following years. Their findings continue to make bold Matic price predictions that show a much more impressive bull run than Trading Beast’s.
Wallet Investors claim that Matic tokens will hit different price targets; however, the average price of one token after one year would be $ 3.286. Similarly, the coin is expected to be worth $11.371 in 5 years, indicating a profitable investment for long-term investors.
Cryptopolitan’s verdict on Polygon (Matic) 2022-2035
Cryptopolitan acknowledges the massive potential of the polygon project and how it impacts Ethereum by allowing off-chain transactions and consequently reducing network congestion. Polygon is a solid project that reduces gas fees and contributes to the overall growth of the Ethereum token and ecosystem.
Following its numerous qualities, it is difficult to turn a blind eye to the potentially bright future of the token. Cryptopolitan can strongly recommend Matic as a cryptocurrency for short and long-term investors. However, this recommendation is not to be taken as investment advice but rather an insight for individuals who do their research.
Below are some of the predicted prices of the token for the next five years and beyond. The data portrayed is meant to guide new investors to make current investment decisions.
Polygon (Matic) price prediction for 2022
Courtesy: TradingBeasts
In 2022, we predict an overall positive growth to continue. Matic continued to resist challenges and even set new milestones after the famous hack on its network.
The token is a good investment option for short-term holders because we project the token to close 2022 with a minimum value of $1.29, which is still a 10% return on investment. The maximum expected price could be as high as $3.2.
Polygon (Matic) price prediction for 2023
Courtesy: TradingBeasts
In 2023, that the token will continue to increase its value. Since it is projected that the token will have maxed out its maximum supply by the end of 2022, 2o23 looks even more promising. The long-term earning potential for the token increases significantly after all entire supply has been reached.
The price predictions for the token indicate that it will record a minimum value of $1.310 and a maximum value of $1.927 by the end of December 2023. The average price of one token in the same month will be $ 1.54.
Polygon (Matic) price prediction for 2024
Courtesy: TradingBeasts
Many crypto experts view the Polygon token as a long-term project since it is one of the pioneer projects to successfully exploit the Ethereum network and scale it by facilitating off-chain transactions. The developments advanced to allow the Etheruem network to interact with several other blockchain technologies.
The cryptocurrency market is destined to witness a rise in the token’s price. According to Polygon forecast 2024, the token will register a minimum value of $1.518 and a maximum value of $2.233. By December 2024, the average price for the token will be $1.786. The data above implies a 53% increase, a conservative Polygon prediction but still maintains a bullish momentum.
Polygon (Matic) price prediction for 2030
Nine years from now is an incredibly long time to make accurate forecasts; however, projections can be made based on the prevailing growth rates while keeping all other variables constant. Realistically, many changes will have transpired in the crypto work in nine years; however, based on available data, Matic can trade at $ $5.13 by 2030.
Polygon (Matic) price prediction for 2035
Making predictions for 2035 are equally complex. Cryptopolitan expects the price of the token to increase systematically over the years. By considering the witnessed growth, a single token can trade at $ $6.97 in 2035.
Conclusion
Although the crypto world has been highly volatile in the past few months, Matic has maintained the same price level for a long time with minor changes. Considering the projections about the token price, it is highly likely that long-term investors will make good profits from the token.
Similarly, scalpers, day traders, and short-term holders may also use Matic as a fantastic investment tool. It provides tremendous opportunities for crypto investors of various risk profiles. For instance, risk-tolerant investors may purchase and hold the token for ten years or more. The individual will be accepting more risk, and in return, the individual will benefit from the projected high percentage price changes during that period.
We always encourage new investors to do enough research before leaping to buy a particular cryptocurrency. Ideally, crypto investments are considered riskier than conventional real investments like real estate. However, the higher risks are often accompanied by higher returns.
Investors need to practice proper risk management strategies to protect their cryptocurrency portfolio from necessary losses. For research purposes, below are some frequently asked questions about the token.
FAQs
Is Polygon (Matic) a safe investment in 2021?
Technical analysis indicates that the overall Matic coin price in 2021 may not change significantly. Therefore, short-term holders may not benefit from buying and holding the token until December of 2021. Currently, an ongoing bearish trend is projected to last a short while, and it may affect the projected prices indicated above.
However, investing in Matic is encouraged for an individual with a long-term perspective since it has a strong earning potential.
What are the risks of investing in Polygon (Matic)?
Currently, it is hard to tell any specific risks tied to Matic as an individual project. However, this year, a security risk was exposed when hackers managed to steal tokens worth $611 million in August.
Other than the security risk, the project is relatively stable. One thing that could jeopardize the success of the Polygon project is competitors such as Polkadot, Cosmos, and Avalance.
Where can I buy Polygon (Matic) crypto?
Matic is popular on nearly all centralized and decentralized exchanges. It is listed on CoinMarket Cap and Coingecko as number #23, with a total market cap of $7,778,110,827. Since there are thousands of cryptocurrencies today, being ranked number 23 by market capitalization signifies that the coin is a stable and trusted token.
Today, it is traded on Coinbase crypto exchange, Binance, Huobi Global, Binance.US, and FTX under spot trading.
Should I invest in Polygon (Matic)?
Depending on your investment goals, Polygon coin may be suitable for you or not. For instance, new crypto traders are known to lose money generally. Therefore new traders trading Matic are exposed to more risks and more chances of losing the dollar value of their investment.
However, for long-term investors, Matic is a great investment platform that provides crypto investors with an opportunity to make significant gains. Over a prolonged period, Matic is worth investing in considering its price prediction.
Is Polygon (Matic) profitable for short-term investors?
Matic price prediction for the short-term does not show significant gains over the short term implying minimal activity in its price action. Therefore, crypto investors looking to profit in a short period may not benefit from investing in the token.
However, experienced traders may seize the opportunity and make profitable trades on the relatively inactive trend charts.
Should I buy and hold Polygon (Matic) for the long term?
Based on the Matic price prediction and technical analysis, it is evident that Matic will perform better in the long run. The Ethereum based project champions interoperability, a concept that has crippled blockchain technologies for a long time. The successful execution of the project will undoubtedly result in an overall increase in the value of the Matic.
Therefore, it is safe for crypto investors to make long-term investments with the Polygon crypto.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and consultation with a qualified professional before making any investment decisions.
